Oil posted its first weekly gain in three weeks as the European Union continued to debate how it can decrease its reliance on Russian exports and Saudi Arabian energy assets came under attack. Futures in New York gained $9.20 this week, the second-biggest dollar gain since 2011. Oil reversed its losses earlier in Friday’s session as Yemen’s Houthi rebels claimed responsibility for a series of attacks on Saudi Aramco facilities, including an oil storage site in Jeddah. Saudi Arabia warned this week that crude supplies are at risk, and called on the U.S. to do more to counter attacks from the Iran-backed rebels. The attack on Aramco facilities is likely to cause some short-term operational disruptions, and may temporarily reduce Saudi supply, said Rohan Reddy, a research analyst at Global X Management, a firm that manages $2 billion in energy-related assets. “The broader geopolitical issues that continue in […]